South Korea may cancel the "one platform, one line" rule for crypto trading platforms; regulators assess the impact on market competition

CoinVoice · 2026-01-20T12:44:45+00:00

South Korea's financial regulatory authorities are evaluating whether to end the practice of "each exchange cooperating with only one bank" to reduce market concentration and promote the development of small and medium-sized exchanges. This review is related to the legislative process of the "Digital Asset Basic Act," which plans to allow the issuance of Korean won stablecoins but still faces regulatory disputes, with the submission deadline extended to 2026.

CoinVoice

2026-01-20 12:44:45

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CoinVoice has learned that, according to Cointelegraph, South Korean financial regulators are evaluating whether to end the long-standing practice of “one exchange cooperating with only one bank.”

This review is being coordinated by the Financial Services Commission (FSC) and the Fair Trade Commission, aiming to assess whether the current mechanism exacerbates market concentration. The report notes that “one exchange, one bank” is not codified in law but has gradually formed under anti-money laundering (AML) and customer due diligence requirements.

Relevant studies suggest that this model may limit small and medium-sized exchanges from accessing banking services, thereby consolidating the advantages of leading platforms. This discussion is also related to the second phase of legislation for the Digital Asset Basic Act promoted in South Korea. The bill plans to allow the issuance of Korean won stablecoins, but there are still disagreements over the regulatory framework and approval mechanisms, with the submission deadline postponed to 2026.

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